AGP Executive Report
Last update: an hour agoRate Pressure: Australia’s September inflation jumped to 4.3%, strengthening expectations of another RBA rate rise next week. The ASX finished flat as investors weighed the prospect of higher borrowing costs; the US Federal Reserve held its rate steady despite elevated inflation. Banking and Payments: The government’s plan to scrap card surcharges could reshape payment costs and open opportunities for smaller lenders such as MoneyMe. The ACCC is also proposing extended approval for industry cooperation on account-to-account payments. NAB Restructure: NAB’s Indian workforce grew 54% to 4,534, with the bank spending more than A$300 million a year on its India operations while restructuring roles in Australia. Compliance: Star Entertainment faces A$260 million in Federal Court penalties over historical anti-money-laundering breaches, a sharp reminder of the cost of failing financial safeguards.
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